Yes. Monacolin K is a natural compound generated in the fermentation of rice by the yeast Monascus purpureus, product that receives the name of red yeast rice.
The use of red yeast rice in China was first documented in the Tang Dynasty in 800 AD. It has been used to make rice wine, as a food preservative for maintaining the colour and taste of fish and meat, and for its medicinal properties. A complete and detailed description of its manufacture is found in the ancient Chinese pharmacopoeia, Ben Cao Gang Mu-Dan Shi Bu Yi, published during the Ming Dynasty (1368–1644). In this text, red yeast rice is characterized as mild and useful for improving blood circulation.
In China, consumption of red yeast rice has been studied in animals and humans and has been found to reduce cholesterol concentrations by 11–32% and triacylglycerol concentrations by 12–19%. Red yeast rice continues to be a dietary staple in many Asian countries, including China and Japan, with typical consumption ranging from 14 to 55 g/person/day. Red yeast rice has also been used in the Asian American community in the United States since World War II. Reducing cholesterol concentrations was shown, in several large prospective clinical trials, to be useful in the primary and secondary prevention of heart disease and the other complications of atherosclerosis.
Currently monacolin K and red yeast rice are food ingredients authorised by the European Food Safety Authority (EFSA) for their use in food in the European Union. Furthermore, in 2011 EFSA acknowledged the capacity of red yeast rice of contributing to the maintenance of normal blood cholesterol levels and that this beneficial effect is obtained with a daily intake of 10 mg of monacolin K from fermented red yeast rice preparations (https://efsa.onlinelibrary.wiley.com/doi/epdf/10.2903/j.efsa.2011.2304). This acknowledgement was granted after a thorough scientific assessment of red yeast rice’s contribution to the maintenance of normal blood cholesterol levels.